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Old 01-30-2013, 02:16 PM   #1 (permalink)
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C5 Z06 Prices seem to be moving up

I have noticed that C5 Z06 prices seem to be moving up or at least firming up. One example: a major retailer that post their no haggle prices online, shows 20-Z06's Available. 19-C6-Z06's and 1-C5-Z06; in their nationwide inventory. The C5 Z06 is a black 2004 with 67,000 miles, Their "value" price is $28,998.....The Corvette Specialist that I go to for service told me that C5 Z06 price's have gone up 13% over the past year. He said that C5 Z06's have a high mortality rate and the number of nice cars seem to be in decline...I do not own my Z06 as a investment, it's just nice to know that the market seems to be recognizing the value.
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Old 01-30-2013, 03:03 PM   #2 (permalink)
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Re: C5 Z06 Prices seem to be moving up

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Originally Posted by Scott T View Post
I have noticed that C5 Z06 prices seem to be moving up or at least firming up. One example: a major retailer that post their no haggle prices online, shows 20-Z06's Available. 19-C6-Z06's and 1-C5-Z06; in their nationwide inventory. The C5 Z06 is a black 2004 with 67,000 miles, Their "value" price is $28,998.....The Corvette Specialist that I go to for service told me that C5 Z06 price's have gone up 13% over the past year. He said that C5 Z06's have a high mortality rate and the number of nice cars seem to be in decline...I do not own my Z06 as a investment, it's just nice to know that the market seems to be recognizing the value.
29k for an '04 high mile Z06. I wonder what that dealer has been smoking, I want some of that shite! Don't get me wrong, I own a highly modded C5Z and it would be nice if I could get 1/3 of what i have in the car, but it just isn't going to happen in my lifetime. If you look around on some of the Vette forums that have a cars for sale section you will see that 29k for that car is at least 5 grand too high, maybe more considering the miles it has on it. I know things cost more in Cali, but that is just WAY out of line IMO.
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Old 01-30-2013, 05:47 PM   #3 (permalink)
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Re: C5 Z06 Prices seem to be moving up

That is a bit high. I do see that 04's hold a good value though. I do agree c5z' are stabilizing in price. They were very low 2 years ago and have risen since. Economy plays into that as well. Many unmodified C5Z's are holding a good value, good to see. Was always the best priced car IMHO for what you got.
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Old 02-03-2013, 10:43 AM   #4 (permalink)
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Re: C5 Z06 Prices seem to be moving up

How many cars are made that still maintain at least 50% of their original value 10 years later? Iíll save you some time, not very many.

One of my hobbies since the age of 15 has consisted of researching the value of motorized vehicles. This is part of the reason I ended up with a C5 Z06. I can confidently say that the value of the C5 Z06 eventually has the potential of being worth more than its original sticker price based on current trends. Of course, you will need to keep for a while longer. Currently, the value of C5 Z06 has leveled off and is showing signs of already increasing in resell value. Not so much for the C6 ZO6 with the advent of the C7 coming out this year. Sorry C6 guys. The only way I can see you keeping the leveling and increasing the value of a C6 Z06 is that GM does not put out a C7 or any other version of the Z06. If that is the case, we all win!

I donít think I need to explain the laws of supply and demand to anyone here but as an elite group of ZO6 owners, we decide what we think our Zs are worth. From my perspective and experience of owning one, I would consider mine priceless. The last thing I ever want to see is guys like Mr. McDonaldland letting go their beautiful Z for a Rustang. Needless to say, Iím still a little bent on this guy. If he would have just kept his Z and bought the other, my respect for him would not have wavered.

For every Z listed, the value drops. So keep your cars! They are worth more being enjoyed than being sold off for the next shiny thing that comes along. If you have to sell your Z, please do us all a favor, try not to sell out of desperation. Sell the great experience of owning one and you will get more for your car while helping maintaining the value of ours.

The good news is for guys like Rick who I met at Adamís Detail Clinic yesterday. He was able to purchase his Ď03 TR Garage Queen for way less than market value. Yep! Nothing like buying something that is worth more than you paid. I can honestly say, he paid less than what I think my own is worth on the open market. This is a case of a double edge sword. Iím happy for him, but on the other side, Iím frustrated because I didnít find this deal first. I would love to buy another garage queen like his to keep stashed away for the day I run the tires off the one I own.
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Old 02-04-2013, 01:35 PM   #5 (permalink)
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Re: C5 Z06 Prices seem to be moving up

I agree with you Jim, the price listed is high. The dealer is more than a dealer, it is a national used car business. I based my comment on what I have been reading, hearing and seeing. The price gap between a C5 and C6 Z06 is large enough to make the C5 Z06 a great buy, a performance car that many can afford.
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Old 02-04-2013, 06:21 PM   #6 (permalink)
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Re: C5 Z06 Prices seem to be moving up

Zohbaby perhaps you could explain your theory of supply/demand. It's certainly different from my understanding of it. Buyers dictate price as much, if not more than, sellers. In any event the equilibrium price is a function of both.
And in cars, age is important - and the ever decreasing price of newer used cars affects older ones, regardless of the emotional state of the seller.
The boomers who purchased 1 million dollar Hemi Cudas at Barrett Jackson will find that the Echo cohort will not be as interested in their muscle car, and the price will decline. The huge production numbers of C5 ZO6's will mitigate any near term price increase, as long as GM produces new Corvettes of almost any option level.
But I agree that the C5 ZO6 is a great "value".
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Old 02-04-2013, 09:10 PM   #7 (permalink)
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Re: C5 Z06 Prices seem to be moving up

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Zohbaby perhaps you could explain your theory of supply/demand. It's certainly different from my understanding of it. Buyers dictate price as much, if not more than, sellers. In any event the equilibrium price is a function of both.
And in cars, age is important - and the ever decreasing price of newer used cars affects older ones, regardless of the emotional state of the seller.
The boomers who purchased 1 million dollar Hemi Cudas at Barrett Jackson will find that the Echo cohort will not be as interested in their muscle car, and the price will decline. The huge production numbers of C5 ZO6's will mitigate any near term price increase, as long as GM produces new Corvettes of almost any option level.
But I agree that the C5 ZO6 is a great "value".
There will always be the LAW of supply and demand. My theoretical input is based on the positive manipulation of this law to benefit all those who own a C5 Z06. Let’s just say if the C5 Z06 sold as stocks, the SEC would be so far up my ass, they could tell you what I had for breakfast last week.

The actual value of everything is determined by the value perceived by the buyers. The value of ownership is conceived by the experience of owning.

For Sale: 1972 "Flammable" Ford Pinto
Price reduced for quick sell due to bad press!

By selling the AWESOME experience of owning a C5 Z06 without actually selling, by default, the demand is increased. On the flipside, we as C5 Z06 owners, we own and control the supply. In fact, your last comment actually increase the perceived value of the C5 Z06.

Here is a case in point: De Beer Diamonds. They own a supply of diamonds so large that if they were to sell them all on the open market, the value of all other diamonds would just about become worthless. Instead, they control the supply while increasing the demand through the manipulation of both supply and demand. Think about it. A diamond is just a shiny rock that is perceived to be rare, when in reality, it is not. So, if they can manipulate both sides of said law, why can't we?

As for the BBs paying 1 Million for a Hemi Cuda at Barrett-Jackson, they increased the value of other Cudas by default. The chances of the BBs selling their Cudas for what they paid is slim but those who bought them new and used in the 70's, saw a substantial increase in value. The perception now is the Cuda, Daytona 500 and the Superbird are million dollar cars. Who wouldn't want one? The demand has been increased.

The main goal here is to increase the demand while keeping the supply limited. We as owners have the supply and the AWESOME experience of ownership. Just sell the AWESOME experience of owning and keep the supply. The more people who are not willing to sell their Z06, the perceptions of rarity are increased along with its value.

Also, the longer something is kept, the cost of ownership goes down and the value of ownership through experience goes up. Win/Win!

Now, imagine the reader who wants to buy a C5 Z06 tomorrow. He knows he can't have mine. Why won't I sell or trade it in on a Rustang? I'll tell you why. I know the AWESOME experience of owning a C5 Z06 and I can't put a price tag on that. Really? Can anyone who owns one go without imagining kicking themselves in the ass after they sell? I think not!

Like fish to water and birds to air, I was born to own and promote Corvettes! To this day, I still kick myself in the ass for selling my 89 Corvette. Once a Corvette owner, always a Corvette owner! How old were you when you knew you wanted a Corvette? I was 4 and here I am 43 years later wanting every make, model and color ever built.

Final thought: An ounce of gold is worth less than a glass of water in the middle of a desert. On that note, I need another beer!
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Old 02-04-2013, 10:19 PM   #8 (permalink)
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Re: C5 Z06 Prices seem to be moving up

The water/diamond paradox is about the first thing taught in any university level economics course. DeBeers has a monopoly, which they pay a great deal of money to maintain, and that allows them to set the price. They also must introduce a cultural bias, and that they've done too.
But even if you bought all the C5Z's in existence you would have a monopoly only on those models. And you might see a price increase, but only until the "opportunity cost" of purchasing a C6Z was attained, and people would then switch.
As you don't have a monopoly, the supply of cars for sale is dictated by the price, and the higher the selling price goes, the more cars will be offered for sale, and the price will decline - until an equilibrium price is achieved.
Farmers know this stuff forwards and backwards - a drought causes low yield and a higher price. Only those in a locale which is not affected by drought will see huge profits. Big yield, low price.
I can't see how what you are advocating is possible.
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Old 02-04-2013, 11:04 PM   #9 (permalink)
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Re: C5 Z06 Prices seem to be moving up

It's not about having a monopoly. It's about sharing your passion and creating the demand for all Corvettes.

Let's continue this conversation in 15 years. Until then, enjoy the experience of being a part of 60 years of an American legend.
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Old 02-05-2013, 06:27 PM   #10 (permalink)
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Re: C5 Z06 Prices seem to be moving up

GM is responsible for creating demand for their products, not me.
I'm not interested in "legends".
I've never owned a car for 15 years, and never will.
In the meantime I'll beat this one like a red-headed stepchild.
And have fun.
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Old 02-05-2013, 09:21 PM   #11 (permalink)
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Re: C5 Z06 Prices seem to be moving up

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GM is responsible for creating demand for their products, not me.
I'm not interested in "legends".
I've never owned a car for 15 years, and never will.
In the meantime I'll beat this one like a red-headed stepchild.
And have fun.
Your postings show you know your fair share about high end automobiles but have limited knowledge about the heritage of Corvettes. Do you know who Zora Arkus-Duntov is? Why June 30th is “Drive your Corvette to work” day? What year the first Z06 came out?

I don't get it. I'm here telling you are part of an elite group of Corvette owners and you're telling me you are not interested in the legends behind it. Why do you own a Z06 again? Seriously, what gives? It wasn't because of a factory carbon fiber hood, not standard on your model. It's not because millennium yellow was an upgrade option. Maybe it was because GM uses pushrods. Or could it be you heard from someone about the AWESOME experience it is to drive one? Really, what created the demand for you? A GM commercial?

I’ll confess again, my demand was created by a Hot Wheel. A 1968 Blue Spectraflame Corvette speeding down a yellow track. Now that’s what I’m talking about! Give a 4 year old kid a Hot Wheel and watch the passion grow till the day he can afford his own.

I will admit it took me a second read of your last post. You bought a Z06 so you could drive the crap out it. That works too! Godspeed my friend! Just don't be surprised if it takes all the abuse you can throw at it. There are guys in my club who own late 60's Corvettes who used to raced them up Pikes Peak back in the 70's when it was still a dirt road and still beat the crap out of them on the Auto-X track to this day. I'll have to see if I can get the videos. You'll love em! If you've seen the video of my first Auto-X, you will see a black 67 roadster on the track. This is one of the cars I am talking about.

You say you have nothing to do with creating demand but your words and actions say otherwise. You are also working on the limiting of the supply of garage queens by driving yours for what it was built for, guys like you and I who love heavy peddle.

I’m going to agree to disagree with one of your comments. GM only controls the demand of new Corvettes with help from guys like you and I telling non-owners how great they are. Really, all I’m asking from you is to share the Z06 experience with others. If you drive your Z like you say, I’m confident your devotion to Corvettes will increase and possibly lead to the purchase of another one. That my friend is how demand is created for all Corvettes, new or used.

Let’s see. Ferry boat to Vancouver. Let me guess, you are from Victoria Island, the land of newlyweds and nearly deads. Victoria is a beautiful place. I’ve been there a few times. Ever consider moving to Kelowna, the super model mecca of Canada? OMG! The ladies there are so hot!

Maybe next time I’m up in B.C., you’ll let me take you to a Moxie’s or better yet, the Cactus Club and we can enjoy a nice rare filet mignon and some shots of Maker’s Mark together. I’m always happy to enjoy Crown Royal too. I’ll buy! Afterwards, we can hit the River Rock Casino and play a little Texas Hold’em. Let me know.
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Old 11-13-2013, 11:37 AM   #12 (permalink)
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Re: C5 Z06 Prices seem to be moving up

***edited***

Not a For Sale thread

Last edited by MikesZ06; 11-13-2013 at 06:45 PM.
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Old 11-13-2013, 12:59 PM   #13 (permalink)
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Re: C5 Z06 Prices seem to be moving up

No.
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Old 11-13-2013, 05:11 PM   #14 (permalink)
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Re: C5 Z06 Prices seem to be moving up

***edited***

Not a For Sale thread


Mike, you're such a little girl.

That's why I left before, and the only reason I came back was to piss you off. So stuff it loser.
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Old 11-14-2013, 09:35 AM   #15 (permalink)
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Re: C5 Z06 Prices seem to be moving up

zohbaby I love you! you tell em, at-a-boy, that'll learn'em. As someone who actually fought for the value of my c5z06, id like to add my input. A few years ago, one of the corvette mags, included the c5z06 in its 15k or under article, and though admitting the c5z wasn't quite there yet, they still cited a high-mileage florida example for just above 15k. As the owner of my second c5z06 (having wrecked my first), I was appalled. Between the two cars, I had spent considerably more than 15k to own and drive a z, so I wasn't going to accept that. So I wrote a letter, which they published, in which I complained about their attempt to devalue the car (which they denied in their response). I also accused them of being "ford lackeys" for using a high mileage florida example in their article. Citing the cars performance, I argued that it took a lot of money to beat a c5z06, and that I'd rather keep the car than sell it so cheaply.
Fast forward to todays prices, which are going up, becuz guys like me still feel cool when we drive our z's. When the c6 came out, lots of people took pictures of my z, like it was the new vette, what does the public know, right? But the car generates excitement.
Now, on the argument of value. The c5z06 is based on the LeMans winning c5r racecar, and has itself (c5z06's) won countless local championships, and is still THE CAR to go racing in. Even as late as 2008, a c5r was winning endurance races in Europe with the French team Luc Alphan racing.
Why I myself, who does no road racing, had a tussle with a new Lamborghini just a year ago, down "racer road" in which I showed that the old dog had indeed new tricks. If an 11 year old, mostly stock vette can keep a new lambo at bay at triple digit speeds, then its going to keep its value, this car is a legend.I'll be happy when just average c5z06's fetch 30k or more. But I wont be selling it.
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